PricewaterhouseCoopers (PwC), a global renowned professional service firm has opened a field office in Rwanda, a move that will serve to bridge the huge existing gap in the accounting profession.
Currently Rwanda’s Institute of Certified Public Accountants (ICPAR) has approximately only 130 members.
Yet while PwC has been conducting its services using professionals drawn from offices in neighboring countries, opening a field office will facilitate recruitment of local staff across all service areas.
“In all its markets PwC recruits and nurtures local talent and we shall do the same in Rwanda. We will support the institute on the priorities that the institute has articulated for developing the accounting profession,” Bernice Kimacia, the Country Senior Partner at PwC told a press briefing yesterday after the official opening ceremony of their office premises at Blue Star House in Kacyiru.
According to Kimacia, PwC Rwanda office will be offering the full range of its services including assurance, tax, and advisory services.
“We realize for us to be more effective in our service delivery and support the local market better; it was imperative that we made a long term commitment by investing in a physical office,” she said.
By opening a field office, PwC also complies with the requirements of the laws governing the accounting profession after working in the country for a number of years on a “fly in” basis.
Enacted in 2009 the Accounting Law made it mandatory for all accounting firms working in Rwanda to register in Rwanda.
In his remarks, Peter Rutaremara, the President of ICPAR observed that as a “young” institute, PwC’s establishment will facilitate deepening the accounting professional resource in the country.
“By employing Rwandese in their firm, we are confident that both the private and public sectors will benefit from the acquired experience and expertise,”
Rutaremara also underscored that the firm is working already working closely with both government towards fulfilling public finance management requirements.
He pointed out that currently Rwanda is the only country in the region that is using consolidated accounts where by government entities have their financial statements put together.
“Each ministry gets a government budget and even if it is generating its own revenue; at the end of each year they are supposed to give accountability through financial statements. PwC has played a role to have that important function implemented,” he said.
PwC Africa Central network includes members firms in Angola, Ghana, Kenya, Nigeria, Mauritius, Tanzania, Uganda and Zambia.